Frequently Asked Questions about Real Estate

A canceled status on a multiple listing service (MLS) means that the listing agreement between the seller and the listing agent has been cancelled:

• The property is no longer available for showings 🏡
• The relationship between the seller and the listing agent ends 🙅🏼‍♀️
• The listing will not show up as expired in the future 👍🏼
• Also, the seller is free to relist the property with another broker 🏠

📜 To relist the property, the seller will need to get a new listing agreement with the broker.

A canceled listing differs from a withdrawn listing, so the listing contract is still in effect, but the property is not being marketed. A withdrawn listing can be for many reasons, including:

• The seller changed their mind 🤷🏼‍♂️
• The seller wants to make improvements to the home 🔨🔦
• Also, the seller may want a break from showing the home 😪

More About a Cancelled Listing

❎ When a real estate listing is cancelled, it means that the property which was previously available for sale is no longer on the market.

This could be because of a variety of reasons – the owner may have decided not to sell, the agreement with the real estate agent may have ended, or the property may have been taken off the market for improvements or repairs.

🚫 The cancellation implies that the property is no longer actively seeking potential buyers.

👩🏼Libby Says…

In my experience, the home seller may have unrealistic expectations about selling their home. They may expect more money than the home is worth. They may think the property will sell quickly without doing any repairs, staging or preparing the home for the market.

Having an agent that is honest with the seller is paramount to a fast sale for the most amount of money. I help sellers manage their expectations and have realistic goals for the sale of their property.

If you want honest advice about selling your home, give me a call right away. 🤙🏼

~ Libby

📲 865-364-0200
📧 Libby@guthriegrouphomes.com

Libby Guthrie, REALTOR
Keller Williams 865-966-5005
Guthrie Group Homes, Knoxville TN Real Estate
https://gghknoxville.com/

What are Comparable Sales? 🤔

Known in real estate as “comps,” comparable sales are the sales prices of similar homes and are based on the following:

☑️ Lot size
☑️ Condition
☑️ Age & Construction
☑️ Square footage
☑️ Close proximity
☑️ Time frame of the sale

When it comes to buying or selling, both place high importance on comps to determine a home’s value.

Contact our team for a ✨ free consultation ✨ to learn more about what homes are selling for in your area.

A real estate contract is a legally binding agreement between two parties for the sale and purchase of a property.

It outlines the price, terms, and conditions of the sale.

What is Curb Appeal? 🤔

Curb appeal is the attractiveness of a property viewed from the street, the exterior allure that grabs the attention of prospective buyers or tenants. It’s a crucial factor in real estate as it creates the first impression, invests the onlooker with a sense of expectation, and sets the tone for what’s to come. Curb appeal often lays the emotional groundwork that can significantly influence a potential buyer or tenant’s decision.

The concept of curb appeal goes beyond just a clean facade; it’s about a harmonious mix of multiple elements that together create a compelling and inviting outdoor space. This includes aspects like landscaping, exterior design, front entrance, lighting, driveway, and walkways, each carrying its own weight and contributing to the overall allure.

To create excellent curb appeal, focus on the following suggestions:

1. Landscaping: This is often the most noticeable aspect of curb appeal. A well-maintained lawn, fresh greenery, and vibrant flowers can drastically enhance your home’s appearance. Choose low-maintenance, native plants for sustainability and attractiveness.

2. Exterior Design and Maintenance: Ensure your home’s exterior is in good repair. Fresh paint, clean windows, and a well-maintained roof are essential. Opt for colors and design elements that complement the home’s style and surroundings.

3. Front Entrance: Make your front door inviting. Consider it as a focal point that grabs attention, from its color to its hardware to any surrounding elements like plants or decorations.

4. Lighting: Good outdoor lighting can provide a warm, welcoming ambiance while highlighting the home’s best features. Investing in professionally designed lighting not only attracts potential buyers or tenants at night but also amplifies security.

5. Driveway and Walkways: A clean, well-maintained driveway and walkways go a long way in boosting curb appeal. Opt for materials that complement your home and landscape.

6. Outdoor Elements: Details like a mailbox, house numbers or a creatively designed welcome mat can add additional charm to your home’s exterior.

7. Seasonal Decor: Occasional touches in sync with seasons or holidays can make the house appear cared for and loved, adding significantly to its allure.

Remember, curb appeal is about creating a sense of harmony and coherence, where every element is integrated seamlessly, leading to a compelling and inviting visual narrative that convinces the potential buyer or tenant about the value and potential of the property.

An escalation clause is a clause in a real estate contract that allows the purchase price of a property to increase if a certain condition is met.

For example, if the buyer’s offer is accepted but the seller receives a higher offer, the buyer can choose to increase their offer by a specified amount.

Did you know that some properties are never listed publicly?

Known as pocket listings, these properties are sold “off-market.” The broker chooses who to share the listing with—usually an exclusive list of clients and agents.

Typically, pocket listings are used to enhance the seller’s privacy. They are especially popular for ultra-luxury listings or when the seller is a public figure.

However, not everyone supports the practice. In fact, the U.S.-based National Association of Realtors (NAR) requires its members to post listings on the MLS, in most cases—although the legality of NAR’s policy is currently being challenged in the U.S. judicial system.

Curious to find out what strategy we would recommend to sell your home in today’s market? Reach out for a free consultation.

The written contract between the buyer and seller that outlines the terms of the sale.